Africa-Press – Namibia. THE Government Institutions Pension Fund (GIPF) has invested over N$20 million in the Tamariskia housing development at Swakopmund.
According to a statement released by the GIPF yesterday, several stakeholders were involved in the process of the development, such as the Beaucorp Group (Pty) Ltd through the Koningstein Capital Investment Property Fund.
The development has over 120 housing units worth between N$800 000 and N$1,5 million in Extension 3.
According to the GIPF, the majority of the housing units have thus far been bought by individuals between the ages of 28 and 38 in the public sector.
GIPF chief executive David Nuyoma yesterday said the fund was proud to be a pioneer of the concept in Namibia.
“It should also be noted that even though our unlisted investment objectives are developmental in nature, the protection and growth of our assets remain top priority,” he said.
Nuyoma further said in line with Regulation 13 of the Pension Funds Act, pension funds are required to hold a minimum of 45% of their investments in Namibian assets, with a maximum of 3,5% in unlisted investments.
“Through this legislation, pension funds are encouraged to invest in the domestic market, and to ensure that Namibian savings are utilised to stimulate local development,” he said.
The founder of Beaucorp, Mariette Beuthen, expressed her gratitude to the GIPF, saying not only has the fund assisted in the construction of the homes, but it has also uplifted the community’s living standards through job creation.
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